VISUAL EDGE TECHNOLOGY INC. SECURES $18.5 MILLION FINANCING

North Canton, Ohio, September 12, 2005. Visual Edge Technology Inc. (VisualEdge) announced today that it has arranged $18,500,000 of debt and equity financing from a highly respected team of capital providers, creating a solid financing partnership to support its active acquisitions of top-performing companies in the office copier and wide format reprographics industries.

“We are very pleased to partner with two premiere middle market lenders, PNC Bank and Gladstone Capital, providing capital for our strategic growth both now and in the future. We are building on the solid foundation of equity sponsorship provided by longtime supporters New Enterprise Associates and Parker Price Capital.” said Ron Huff, CFO of VisualEdge.

Visual Edge Technology President and Chief Executive Officer, Mark C. Lewis added, “I am excited by the solid commitment of our financial partners and their vote of confidence in our industry and our team at Visual Edge Technology to create value in our marketplace.”

PNC Bank provided a $12,000,000 revolving and term loan facility and Gladstone Capital provided $5,000,000 in subordinated notes. Equity financing was provided by New Enterprise Associates and Parker Price Capital, VisualEdge’s continuing equity sponsors. Proceeds were used to fund the recently announced acquisition of Copeco, Inc., refinance various credit facilities and provide expanded working capital. VisualEdge companies generate approximately $45 Million in annual revenue.

This funding leverages VisualEdge’s strategic goal to acquire well-managed companies distributing leading-edge, office and wide format imaging technology solutions in core and satellite markets. On September 2, 2005 VisualEdge acquired Copeco, a leading Northeast Ohio dealer of Sharp and Ricoh office copiers. Other top industry performers that VisualEdge has acquired include its subsidiary Graphic Enterprises Inc. (GEI), which consists of GEI CalGraph, a premier North American service provider, GEI Office Solutions, a leading reseller of Konica-Minolta, Kyocera, and Muratec equipment serving Northeast Ohio and GEI Wide Format Solutions which operates across all of North America and markets its own products and those sourced from major manufacturers. GEI is the master distributor for the Kyocera wide format line and Colortrac SmartLF scanners.

Visual Edge Technology has successfully acquired leading companies in the distribution and service of office and wide format imaging solutions in North America. These strategic acquisitions, combined with solid internal growth of the wholly-owned subsidiaries, have created consistent, profitable growth for VisualEdge over the past two years.

About Visual Edge Technology:

Visual Edge Technology Inc. (VisualEdge), headquartered in North Canton, Ohio, was founded in 1986 and has repositioned itself as a successful acquirer of office and wide format imaging technology solutions companies. VisualEdge seeks to acquire well-managed companies that are leaders in their local markets across North America. VisualEdge provides these companies increased purchasing power, access to working capital to accelerate their efforts to capture market share and an opportunity to share in the ownership and growth opportunities of a significantly larger enterprise while retaining local control and marketplace identity.


Investors or Solutions Companies seeking additional information about Visual Edge Technology Inc. please contact:

Mark C. Lewis, CEO, 800-321-9874 ext 225
Gene Jones, Acting CFO, 800-321-9874 ext. 220

 

   
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